Natixis Advisors LLC Purchases 21,018 Shares of Asbury Automotive Group, Inc. $ABG

Key Points

• Natixis Advisors LLC increased its stake in Asbury Automotive Group by 12.5%, buying 21,018 shares to hold 188,977 shares (about 0.97% of the company) valued at roughly $46.2 million at quarter-end.
• Asbury reported Q results of $6.67 EPS (missed by $0.03) and $4.68B revenue (below estimates); the stock trades at a market cap of $3.93B with a P/E of 8.13, and analysts have a consensus rating of Hold with a $247.57 price target.

Natixis Advisors LLC grew its position in Asbury Automotive Group, Inc. (NYSE:ABG - Free Report) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 188,977 shares of the company's stock after buying an additional 21,018 shares during the period. Natixis Advisors LLC owned approximately 0.97% of Asbury Automotive Group worth $46,195,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Osaic Holdings Inc. lifted its holdings in Asbury Automotive Group by 69.2% during the second quarter. Osaic Holdings Inc. now owns 132 shares of the company's stock worth $31,000 after acquiring an additional 54 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Asbury Automotive Group by 64.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 206 shares of the company's stock worth $49,000 after acquiring an additional 81 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Asbury Automotive Group by 104.2% in the second quarter. EverSource Wealth Advisors LLC now owns 337 shares of the company's stock worth $80,000 after acquiring an additional 172 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Asbury Automotive Group by 466.7% during the third quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $107,000 after purchasing an additional 364 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Asbury Automotive Group by 17.8% during the third quarter. Smartleaf Asset Management LLC now owns 470 shares of the company's stock worth $113,000 after purchasing an additional 71 shares during the period.

Asbury Automotive Group Stock Down 0.4%

ABG stock opened at $203.87 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.95 and a quick ratio of 0.35. The stock has a market capitalization of $3.93 billion, a P/E ratio of 8.13 and a beta of 0.81. Asbury Automotive Group, Inc. has a fifty-two week low of $195.17 and a fifty-two week high of $274.50. The business has a 50-day moving average of $232.23 and a 200-day moving average of $237.35.

Asbury Automotive Group (NYSE:ABG - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $6.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.70 by ($0.03). The firm had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.93 billion. Asbury Automotive Group had a net margin of 2.73% and a return on equity of 14.51%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $7.26 EPS. On average, sell-side analysts anticipate that Asbury Automotive Group, Inc. will post 26.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ABG shares. Bank of America assumed coverage on Asbury Automotive Group in a research report on Wednesday, March 4th. They issued a "buy" rating for the company. Barclays dropped their target price on shares of Asbury Automotive Group from $250.00 to $230.00 and set a "reduce" rating on the stock in a report on Friday, February 6th. Weiss Ratings lowered shares of Asbury Automotive Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, February 23rd. Morgan Stanley set a $230.00 price target on shares of Asbury Automotive Group in a report on Monday, December 8th. Finally, Zacks Research downgraded shares of Asbury Automotive Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Asbury Automotive Group presently has a consensus rating of "Hold" and a consensus price target of $247.57.

About Asbury Automotive Group

Asbury Automotive Group, Inc NYSE: ABG is one of the largest automotive retailers in the United States. Headquartered in Duluth, Georgia, the company operates a network of franchised dealerships representing a diverse portfolio of automotive brands. Its core business activities include the sale of new and pre-owned vehicles, as well as the provision of vehicle finance, insurance and protection products to retail customers.

In addition to retail sales, Asbury offers a comprehensive suite of after-sales services, from scheduled maintenance and certified collision repair to parts distribution.

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